Kaiyue International Inc. Completes Initial Public Offering as a Capital Pool Company
2010年8月7日 - 3:42AM
Marketwired
Kaiyue International Inc. (TSX VENTURE: KYU) (the "Company"), a
capital pool company, is pleased to announce that it has
successfully completed its initial public offering of 2,000,000
common shares at a price of $0.10 per common share (the "Offering")
for gross proceeds of $200,000.
M Partners Inc. (the "Agent") acted as agent for the Offering.
In connection with the Offering, the Agent received a cash
commission of $7,728, a corporate finance fee of $5,000 (excluding
applicable taxes) and a non-transferable warrant to purchase up to
77,280 common shares of the Company at a price of $0.10 per common
share exercisable for a period of 24 months after the common shares
of the Company commence trading on the TSX Venture Exchange.
The common shares of the Company have been conditionally
approved for listing on the TSX Venture Exchange and are expected
to commence trading on or about August 12, 2010 under the symbol
KYU.
The Company is a capital pool company ("CPC") within the meaning
of the policies of the TSX Venture Exchange. The Company has not
commenced operations and has no assets other than cash. The Company
proposes to use the net proceeds of the Offering to identify and
evaluate business and assets with a view to completing a
"Qualifying Transaction" under the CPC policies of the TSX Venture
Exchange. The proceeds raised under the Offering will be used to
pursue the Company's Qualifying Transaction.
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking
statements, which reflect the expectations of management regarding
the Company's listing of its common shares on the TSX Venture
Exchange. Forward-looking statements consist of statements that are
not purely historical, including any statements regarding beliefs,
plans, expectations or intentions regarding the future. Such
statements are subject to risks and uncertainties that may cause
actual results, performance or developments to differ materially
from those contained in the statements. No assurance can be given
that any of the events anticipated by the forward-looking
statements will occur or, if they do occur, what benefits the
Company will obtain from them.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) has reviewed the contents of this news release
and neither the TSX Venture Exchange nor its Regulation Services
Provider accepts responsibility for the adequacy or accuracy of
this release.
Contacts: Kaiyue International Inc. Joseph Chan Chief Financial
Officer 647-299-9203 jcchan06@hotmail.com
Kaiyue International Inc. (TSXV:KYU)
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Kaiyue International Inc. (TSXV:KYU)
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